Novartis shares decline on FDA request for more Galvus data

LONDON (MarketWatch) -- Novartis
NVS, -1.50%
shares dropped 2% in early Swiss trading after the drugmaker said it received an approvable letter from the Food and Drug Administration for Type 2 diabetes drug Galvus. The FDA has requested additional data, including a clinical study to demonstrate the safety and efficacy of Galvus in specific patient groups with kidney impairment. Novartis said it was confident in the safety and efficacy of Galvus, and added that it held to its 2007 financial outlook.

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